Prepress

Danaher Reports Record Fourth Quarter and Full Year 2010 Results

Friday 28. January 2011 - Danaher Corporation (NYSE: DHR) announced today that GAAP net earnings for the quarter ended December 31, 2010 were $473.9 million, or $0.69 per diluted share, a 72.5% increase over GAAP diluted net earnings per share of $0.40 for the fourth quarter 2009.

On a non-GAAP basis, which reflects the adjustments identified in the attached reconciliation schedule, 2010 fourth quarter adjusted net earnings were $455.4 million, or $0.67 per diluted share, a 19.5% increase over 2009 fourth quarter adjusted diluted net earnings per share of $0.56. Sales for the 2010 fourth quarter were $3.6 billion, 15% higher than the $3.1 billion reported for the 2009 fourth quarter. Core revenues increased 13% in the quarter compared to the fourth quarter of 2009.
GAAP net earnings for the full year 2010 were $1.8 billion, or $2.64 per diluted share, compared with GAAP net earnings of $1.2 billion, or $1.73 per diluted share for the full year 2009. Revenues for the full year 2010 were $13.2 billion compared to $11.2 billion for the full year 2009, an increase of 18%. Core revenues increased 11.5% for the full year 2010 compared to the full year 2009.
H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, “2010 was an outstanding year for Danaher. We continued to evolve the portfolio toward higher growth, higher technology, more global businesses serving markets where our brands are clear leaders. The investments we have made in innovation and emerging markets are driving growth and share gains. We generated $1.87 billion of free cash flow in 2010 and continue to seek to deploy our cash back into the business through acquisitions. We believe we are well positioned heading into 2011.”